The Euro (EUR) recovered ground against the US Dollar (USD) amidst dovish comments from Federal Reserve (Fed) officials, which spurred a drop In US Tr
EUR/USD rebounds from daily lows, capitalizing on a 17 bps plunge in US 10-year Treasury yields. Dovish remarks from Fed officials, hinting at a pause in rate hikes, further dampened USD’s appeal. Anticipation builds for forthcoming US and German inflation data, potentially swaying ECB and Fed stances. easury yields a headwind for the Greenback . The EUR/USD is trading at 1.0616 after bouncing from a daily low of 1.0554.
Data-wise, the IS small business sentiment moderately decelerated due to inflation and labor shortages. A poll from the New York Fed showed that consumers are expecting inflation a year from not to hit 3.7%, above August’s 3.6%, while for a three-year, they see prices at 3%, from August’s 2.8%. The drop in German bond yields is capping the EUR/USD advance on the Eurozone front, while the European Central Bank is expected to halt its tightening cycle, according to market participants.
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